Annual Report 2022
Despite the housing affordability crisis, the rental squeeze and long social housing waitlists, Head Start Homes is making home ownership a reality for those who never thought it possible.
Highlights
We helped 78 beneficiaries with our empowerment services (which includes savings plans and credit checks) and has also helped 6 households buy their own home, thereby freeing up an additional 6 social and affordable homes.
Within the report you will hear directly from our single mum and First Nations clients on how we have supported them to become proud homeowners, and importantly what this milestone has meant for them, their children, and their community.
Also featured is the video launch of Chontell’s home ownership story with HSH. With special thanks to both Chontell and the Aboriginal Housing Office for allowing Head Start Homes to launch this heartfelt video.
Within two years and ahead of time, we have also seen our first guarantees recycle so that they can be used again to help more households achieve their homeownership dreams.
We secured a $1.3m tender from Wollongong Council to create our Wollongong Home Ownership Program.
We experienced a major uplift in funding which has primarily been derived from developing partnerships with Westpac, the Aboriginal Housing Office, Lendlease and the Snow Foundation who are featured within the report.
We provide an overview as to how our empowerment products, services and innovations help our clients overcome the deposit, know-how and supply barriers. This included interviews with staff from our new Home Ownership Success Team.
Our impact in the remote community of Burketown in far north Queensland, where we helped to create a landmark homeownership pathway for First Nations tenants.
Head Start Homes had consistent financial growth with a strong balance sheet:
o Total equity increased from $180,177 to $216,047 which represents a 20% increase.
o Total revenue decreased from $187,659 to $175,468 which represents a 6% decrease.
o Total expenses increased by 36% from $102,237 to $139,598.
o Total assets increased from $332,065 to $542,229 which represents a 63% increase. These funds are currently set aside for Head Start Guarantees.
o Cash and cash equivalents increased from $328,873 to $530,705 which represents a 61% increase.
o Operating surplus for the year was $35,870 (2021: $85,422 surplus).
o Capital funds set aside for Head Start Guarantees grew by 55%
o Total assets increased from $332,065 to $542,229 representing a 63% increase.
o Cash and cash equivalents increased from $328,873 to $530,705 representing a 61% increase.
Quotes and endorsements from the over 100 cross-sector businesses and charities that support Head Start Homes and provide in-kind support that was valued at $497,696 this year and a total contribution of $2.9 million.
A snapshot of the wonderful support provided by our skilled Volunteers who donated hours to the value of more than $100,000 this year
Head Start Homes extends a huge thanks to all of our amazing volunteers, staff and partners. This includes our Founding Partner Westpac, Aboriginal Housing Office, Wollongong City Council, Lendlease, Impact Investing Australia, the Department of Social Services, the Snow Foundation, the NSW Government, NielsenIQ, Invia and Coates for providing essential grant funding; and Community Housing Ltd, and The Housing Trust for being referral partners.
“It is a privilege to chair this dynamic social enterprise as we work together towards transformative solutions to homelessness, housing security and affordability, and I’d like to extend my thanks to our committed group of Directors who never cease to bring their passion, dedication and creativity to our work.”
“We pride ourselves on having a fabulous community of like-minded individuals who are committed to making Australia a more equitable place to live. We pay special thanks to our fabulous Board, volunteers and the 100-plus organisations who have supported us since our inception,”
“Head Start Homes’ reputation as an innovator, deliverer of high quality and value community outcomes and as a critical industry advocate and disrupter, has been reflected in the receipt of significant funds this year”
“I’m coming from a refugee camp with nothing and now I’m a homeowner, because Australia is the best country”
“He was once homeless and now he owns a house, it makes me feel good. It’s a very big achievement.”
“I know what it feels like to be homeless and then get the opportunity to have a house, start afresh and build yourself up - I’m happy.”
